Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1887-08-05
n.vsoepers located them in all parts Of the

railroad men and some Of the real estate
agents were in these schemes. The railways
tried TO get as much money as they could out
of the people to help them build their depots,
and the real estate men profited by the sales
of property.
"The Rock Island railroad wanted, for in
stance, to locate its depot on Douglass street.
which Is, you know, one Of the two CHIEF
business streets of the town, and was the best
place for a depot. The property holders
would not, however, give the $4,000 asked
for it, and the railroad then proposed to build
the depot three quarters of mile away on
Oak street. This was to bring the Douglass
street men to time, and they gave $4,000
more than was originally asked, or SIS, 600, to
have it put where the road really wanted it.
The president of the road took their money
after much urging, saying he would los.
money by it, but he would to oblige Them"
ia
zone Of the biggest depot schemes the
Wichita man went on, twas played by a Sc,
of property owners upon a few real estate
Spectators. In these days spectators are
closely watched here, and the new capitalist
who comes in may be gold mine to the
town. One day last winter grave looking
substantial, plug hated stranger arrived
here. He looked like q millionaire and he
had the aspects Of good business man. He
spent several days in going about the town
and priced various properties, talking of the
prospects Of Wichita and its growth. At last,
when curiosity had become great among the
real estate men, he confided to several of them
that he was connected with the Pennsylvania
Central Railroad company and that that com
pany proposed to extend its western terminus
from Chicago to Wichita and he thought they
would build big depot here This he toll ,
them in strict confidence and they Jumped at
the scheme. They looked upon him as one of
the grand moguls of the road and offered him
S25, 600 cash to tell them where he was going
to locate the depot. He took it and fixed the
place on Main street near Orme. The
land was low, and was apparently q bad
place for a depot. However, the real
estate men we're too big with their scheme to
consider this, and they at once began to buy
the property surrounding this point Strange
to them, the prices asked were rather high
and the owners Of the property wanted more
than had ever been asked before. They
bought, nevertheless, and paid cash. Some
of them were connected with the Wichita
and Western railway, whose track came in
near tire proposed spot. After they had
bought several blocks 1t leaked out that the
whole matter was a put up job, that the
clever plug hated Pennsylvania railroad
man had been paid to play his part and
that he bad gotten a greater amount
from the property holders for doing il
than from the real estate men. He
has not been seen in Wichita since
he got bis last 1926, 200, and the real estate
men still hold their surprisingly high priced
iepot property. The outlines of the fraud
were published in the papers here, but the
men taken in begged the reporters to keep it
qui t." .**
"Has there been anything of this kind in
business property"
ayes. The Fourth avenue business scheme
took in horde Of real estate agents. It was
operated by several Of the property holders,
and aided by the newspapers in part. Fourth
venue is a side street, half mile off from
Main. 1t lies parallel with the lway track
md the scheme in part was 10 make it q
wholesale street, with the backs OF the stores
facing the track. 1t cuts Douglass street
which is the other business street. Que
Wednesday morning in last February lot.
on this street were worth from 81 200 t
| 81, 900 apiece They were not very desirable
for residence, and no one thought of then
| being good business lots, except at the juno
| ton with Douglass. One Thursday morning
| il was announced that the Wichita and South
western Hardware company had been organ
| ICED with capital OF $35O,OO0 and that
charter had been taken out for the same. Tn,
building was to be erected on this avenue
md work was to begin at once. 1t was ais
| announced that the new Matthewson Acad
emy of Music was to be located here, and
number of the property owners along TIL
street, specified by name, stated that they in
tended to erect three and five story building
| for wholesale houses, and the paper venture,
| the prediction that this might mean the begin
| ming of the great wholesale street of the town
The day that this was published Fourt
avenue swarmed with real estate agents an
| property jumped from the former figures t
Is high as $1,000 per lot of 25x150 feet B.
| 10 a. m. there were not enough hitching post
o tie the horses OF the real estate buyers
| The sales of Thursday, published in Friday
| papers, made the matter worse, and the Graz
lasted till Sunday, when the people got tim
| to think and the prices began to fall. In tn
meantime the older residents had sold out
| and the property was almost all in the hand
| of new purchasers. Now the great hardwar
| store has failed to materialize, the Academ
| Of Music finds defect in the title to the Ian
| was about to buy, and Fourth avenue !
destined to remain as it was before, secon
class residence street"
-.
Another way in which Wichita has IN
creased it's available building space has bee
! by its colleges, and these schemes are ais
| founded upon real estate speculation
| When the town was mad the lead
| ing churches of Wichita advertised that the
were going to establish great colleges i
the new city and asked bids in land all
money for the location Of the site. TIL
| property holders responded literally, and bi
buildings are either projected or are going u
| in half dozen different parts OF the countr
surrounding. OF course the property abou
these colleges has become desirable residenc
property and the colleges have gotten ME
| endowment frnid from the sale of the LOT
which they have laid out. The farmers VIII
| gave the land have made fortunes from til
| increase in the value Of the property they ha
left. and it is all a great scheme which seems
make everybody richer and to hurt no one.
! The first of these colleges was Garfield UNI
,ersity, founded by the Christian church.
has big brick building half up and has r,
ceived. understand, an additional endou
| ment of 100000 from the church outside @
Wichita. 1t was given here about 800 acre
! of land 1t reserved some for itself an
| plotted the rest. 1t has sold over $500, 90
worth OF lots and has yet three fifths of it
land left, The German Reformed church wa